Price Crosses Moving Average
|Bid||184.03 x 800|
|Ask||184.15 x 800|
|Day's Range||178.01 - 187.00|
|52 Week Range||107.75 - 226.83|
|Beta (5Y Monthly)||1.51|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 27, 2020 - Aug 31, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||175.16|
On Wednesday, Workday reported first-quarter results that topped estimates amid lowered expectations from the coronavirus lockdown. Total revenues came in at $1.02 billion, an increase of 23.4% from the first quarter of fiscal 2020. Yahoo Finance’s Myles Udland breaks down the company’s earnings report.
Dow Jones futures rose and Nasdaq futures fell as coronavirus stock market rally sector rotation continues. China OK'd a national security law for Hong Kong.
(Bloomberg) -- Workday Inc. reported quarterly revenue that topped $1 billion for the first time, beating analyst estimates and continuing growth for the maker of human resources software despite the economic challenges of the pandemic. Shares rose more than 7% in extended trading.Revenue increased 23% to $1.02 billion in the fiscal first quarter, the Pleasanton, California-based company said Wednesday in a statement. On average, analysts expected $994 million, according to data compiled by Bloomberg. After some expenses, profit was 44 cents a share, compared with analyst projections of 47 cents.Workday expects subscription revenue for the fiscal year of $3.67 billion to $3.69 billion, down from as much as $3.77 billion. In the second quarter, subscription revenue will be as much as $915 million, the company said.Chief Executive Officer Aneel Bhusri has targeted a goal of $10 billion in annual revenue, from $3.6 billion the past fiscal year. The company continues to expand its human resources, accounting and planning software to offer the capabilities of established rivals Oracle Corp. and SAP SE, but delivered through the cloud. Before Workday reported results, some analysts were concerned that corporate customers aren’t interested in pursuing large software deals and complicated implementations during the Covid-19 pandemic.“The cloud is playing a critical role in today’s climate, with organizations leaning on Workday to pivot -- whether it’s helping employees learn virtually, closing books remotely, or scenario planning to determine what path to take,” Bhusri said in the statement.Workday also announced two partnerships Wednesday. One, with Microsoft Corp., will run Workday’s Adaptive Planning on the Azure cloud. Microsoft’s finance team will start using the product for its internal needs and both companies will collaborate on integrating their software products for mutual customers. The second partnership, with Salesforce.com Inc., aims to help organizations safely return to their offices in the wake of the Covid-19 pandemic.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Workday first-quarter earnings topped estimates amid lowered expectations. Workday stock gained in extended trading as subscription revenue guidance also came in better than feared.
Shares of Workday Inc. rose nearly 6% in the extended session Wednesday after the cloud-software company reported sales above Wall Street expectations and announced a partnership with Salesforce.com Inc. . Workday said it lost $158 million, or 68 cents a share, in the quarter, compared with a loss of $116 million, or 52 cents a share, in the year-ago quarter. Adjusted for one-time items, Workday earned 44 cents a share, compared with 43 cents a share a year ago. Revenue rose 23% to $1.02 billion. Analysts polled by FactSet had expected an adjusted profit of 49 cents a share on sales of $1 billion. "The cloud is playing a critical role in today's climate, with organizations leaning on Workday to pivot," Chief Executive Aneel Bhusri said in a statement. Workday said that while it was "well positioned" to weather the impact of the coronavirus pandemic, it was lowering its fiscal 2021 subscription revenue guidance to account for the near-term challenges with the pandemic. It said it expects fiscal 2021 subscription revenue in a range between $3.67 billion and $3.69 billion, and fiscal second-quarter subscription revenue between $913 million and $915 million. The partnership with Salesforce involves further integration of Workday and Salesforce's Work.com, a new suite of applications and resources to help business with their reopening, the company said. Shares of Workday had ended the regular trading day up 1.2%.
The stock market continued to gain ground at midday on Thursday, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) participated in the modest rally. Slightly before noon EDT, the index was up just over half a percent, as was the Nasdaq 100 Index of top stocks on the exchange. Workday (NASDAQ: WDAY) and Alexion Pharmaceuticals (NASDAQ: ALXN) rose for different reasons, but their gains were among the leaders in the Nasdaq 100 and showed the broad-based support that the rally has had recently.
Workday (WDAY) fiscal first-quarter results benefit from high demand for its cloud-based HCM and financial management solutions and synergies from Scout RFP acquisition.
Workday (WDAY), a leader in enterprise cloud applications for finance and human resources, today announced plans to further integrate Workday and Salesforce to enable joint customers to forge ahead in their plans to safely return to work. The companies will offer integrated solutions between Workday, the source of truth for real-time worker information and skills insights for today’s dynamic workforce, and Salesforce’s Work.com, an all-new suite of applications and advisory resources to help business and community leaders around the world reopen safely.
Microsoft (MSFT) and Workday Inc. (WDAY) today announced a strategic partnership prioritizing enterprise planning in the cloud and expanding the business solutions customers can use to better optimize their everyday work. Through this partnership, Workday customers will also be able to run Workday Adaptive Planning on the Microsoft Azure cloud.
First Quarter Total Revenues of $1.02 Billion, Up 23.4% Year Over YearSubscription Revenue of $882.0 Million, Up 25.8% Year Over YearSubscription Revenue Backlog of $8.19.
NEW YORK, NY / ACCESSWIRE / May 27, 2020 / Workday, Inc. (NASDAQ:WDAY) will be discussing their earnings results in their 2021 First Quarter Earnings call to be held on May 27, 2020 at 4:30 PM Eastern ...
At the end of February we announced the arrival of the first US recession since 2009 and we predicted that the market will decline by at least 20% in (Recession is Imminent: We Need A Travel Ban NOW). In these volatile markets we scrutinize hedge fund filings to get a reading on which direction each […]
The Zacks Analyst Blog Highlights: NIKE, Workday, Allstate, Synopsys and HP
Workday (WDAY) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
PLEASANTON, Calif., May 26, 2020 -- Workday, Inc. (NASDAQ: WDAY), a leader in enterprise cloud applications for finance and human resources, today announced that it will have.
This week is a shortened trading week with major markets closed Monday in observance of the Memorial Day holiday. Investor focus will remain on the coronavirus and its impact on the U.S. economy as most states across the country continued their phased reopening plans.
Editor's note: InvestorPlace's Earnings Reports to Watch is updated weekly. Please check back next week for our latest earnings picks.Earnings season has proven to be good enough. Since April 9, the S&P 500 has rallied 5.4%. The NASDAQ Composite, meanwhile, has done far better. It's gained 13.9% over the same stretch, and now is positive in 2020.That said, it does seem like earnings reports have been quiet. With a few exceptions, investors have looked past near-term results. Most companies have withdrawn forward-looking guidance. Stocks have risen over the last six weeks, but it's difficult to peg earnings season as the core reason why.InvestorPlace - Stock Market News, Stock Advice & Trading TipsEven in that context, and with the peak of the earnings calendar in the rearview mirror, earnings next week look particularly intriguing. The slate is dominated by two key sectors, which have posted very different performances over the past few weeks -- and the past few years.On the one hand, a number of software companies report next week. That sector has been one of the best in the market for years, and has helped drive the sharp rebound in the NASDAQ.On the other, we get reports from a number of retailers, both large and small. That sector, with only a few exceptions, has underperformed essentially since the financial crisis -- and during this crisis as well. But a couple of the recent winners do report next week, and will look to build on impressive reports from giants Walmart (NYSE:WMT) and Target (NYSE:TGT) this week. * 10 Stocks on a Bankruptcy Watch Additionally, there are some other intriguing releases. Elsewhere in tech, chipmaker Marvell Technology (NASDAQ:MRVL), as well as hardware manufacturers HP Inc. (NYSE:HPQ) and Dell Technologies (NYSE:DELL), are on the docket. However, software and retail dominate the seven earnings reports to watch next week -- which include: * Workday (NASDAQ:WDAY) * Dollar General (NYSE:DG) * com (NYSE:CRM) * Costco Wholesale (NASDAQ:COST) * Ulta Beauty (NASDAQ:ULTA) * VMWare (NYSE:VMW) * Canopy Growth (NYSE:CGC)So, with all of that in mind, let's dive into the earnings reports. Earnings Reports to Watch: Workday (WDAY)Source: Sundry Photography / Shutterstock.com Earnings Report Date: Wednesday, May 27, after market closeEven at this point in the earnings calendar, we haven't seen that many key reports from the enterprise software sector. The likes of Microsoft (NASDAQ:MSFT) and IBM (NYSE:IBM) have reported, of course. But in terms of key verticals and key offerings, Palo Alto Networks (NYSE:PANW) posted a solid beat on Thursday afternoon.However, there are some SaaS (software-as-a-service) leaders set to report -- and Workday is the first of them next week. That alone makes Wednesday afternoon's earnings release worth watching. We'll get a glimpse of how enterprises are responding to the pandemic. This crisis, after all, is a key test of the maxim that SaaS revenue is safer than secured debt.Trading in WDAY stock on Thursday will be interesting as well. Again, software stocks still are leading the market -- but valuations were a concern even before the world economy came to a halt. How investors respond to Workday stock will be worth noting, no matter what earnings look like. That's particularly true given what comes the following day. Dollar General (DG)Source: Jonathan Weiss / Shutterstock.com Earnings Report Date: Thursday, May 28, before market openDollar General has a big opportunity with its fiscal first-quarter release on Thursday morning. It took a few weeks, but investors are treating DG stock as a pandemic play. The stock touched an all-time high earlier this month before a modest retreat.The case for DG stock is that consumers facing short-term struggles will trade down to its lower-priced offerings. Q1 earnings need to show that's the case.After all, Walmart posted a 10% comp in its Q1, and Kroger (NYSE:KR) is posting blowout numbers. Just keeping pace with those rivals might not be enough given that Dollar General stock has rallied 30% from March lows. * 3 Energy Stocks That Keep Powering the World However, if Dollar General can beat even elevated expectations, there's room for upside with shares valued at just 24x forward earnings. And if the numbers show further market share gains from rival Dollar Tree (NASDAQ:DLTR), which also reports on Thursday morning, all the better. Salesforce.com (CRM)Source: Bjorn Bakstad / Shutterstock.com Earnings Report Date: Thursday, May 28, after market closeAfter Workday's report on Wednesday, Thursday is a huge day for software names. Salesforce.com, Okta (NASDAQ:OKTA), Veeva Systems (NYSE:VEEV) and Zscaler (NASDAQ:ZS) all report.That's four stocks with a combined market capitalization well past $200 billion. All four stocks have gained this year; in fact, CRM is the laggard of the group. It's gained just 9% year-to-date, while the other three names are up at least 40%.But Salesforce earnings are clearly the group's most important. Salesforce.com is far larger, and by far the most valuable. Its reach is broader, meaning the company should be able to highlight how customers are responding in a range of industries.Meanwhile, CRM stock long has been an intriguing barometer for the broader market. The attractiveness of the Salesforce.com business really is in doubt; the argument has been over valuation. Particularly with the NASDAQ now in the green for 2020, that argument should be of particular interest to investors throughout the market. Costco Wholesale (COST)Source: ilzesgimene / Shutterstock.com Earnings Report Date: Thursday, May 28, after market closeTo be fair, there may not be much in the way of news from Costco's earnings on Thursday afternoon. The company already has disclosed sales for the first 11 weeks of the 12-week quarter. And COST stock has traded sideways for a few months now. Indeed, options markets at the moment are pricing in a less than 5% move between now and next Friday.But for both the market and for COST stock, there will be some news worth monitoring. Management no doubt will give some color on store traffic as states have reopened in the last two weeks. There may also be some discussion of the response to the company's restrictive policy surrounding mask-wearing. * 3 Chinese Stocks to Trade As Tensions Mount Over Transparency Issues Additionally, with investors shrugging at earnings from Walmart and Target, the reports from Dollar General and Costco might confirm a trend. Market bears have questioned why markets are still rising despite sharply negative short-term economic news. So if strong results from Costco are met with a shrug, perhaps positive short-term bounces too are being ignored. Ulta Beauty (ULTA)Source: Jonathan Weiss / Shutterstock.com Earnings Report Date: Thursday, May 28, after market closeSpecialty retail stocks have fared much worse than the sector's largest players, but by the standards of the group Ulta Beauty shares have done reasonably well. The stock has traded sideways over the past four years, with some volatility, along the way -- but many niche-focused rivals have done far worse.After a 14% decline YTD, ULTA again has outpaced many other retail stocks. To keep that outperformance going, the company needs to find a way to inspire some confidence with Thursday afternoon's report.It's going to be difficult. Ulta's stores closed at the end of March, and only are set to reopen next week. Online sales no doubt will benefit, but Ulta is going to post a soft first quarter release.We have seen a similar, if smaller, company report this week: Boot Barn (NYSE:BOOT). And that stock saw just a 4% decline on Thursday despite reporting steep sales declines in March and April. Ulta's earnings will get much more coverage and attention, however, and could signal how other specialty retailers will fare as they report earnings in the coming weeks. VMWare (VMW)Source: Sundry Photography / Shutterstock.com Earnings Report Date: Thursday, May 28, after market closeThe market is pricing in accelerating adoption of cloud services as a result of the current pandemic. That's a key reason why both Amazon (NASDAQ:AMZN) and Nvidia (NASDAQ:NVDA) have touched all-time highs.VMW stock, however, hasn't seen that benefit. Shares are down 11.5% YTD, and off about 17% from late February levels.That sets up a crucial report for VMWare on Thursday afternoon. The cloud shift is a risk to VMWare's core business of "virtualizing" on-premise servers.Moreover, VMWare is trying to catch up through acquisitions. However, that's a risky strategy in an environment where corporate IT teams are facing unimaginable workloads. Those teams may take the path of least resistance, which doesn't necessarily suggest choosing VMWare's "hybrid cloud" offerings. * 4 Cybersecurity Stocks to Buy for Long-Term Gains Relative to trailing profits, VMW stock is cheap. But this is a quarter that can set the narrative for the stock going forward. This is a clear "value trap or value play?" argument, and Q1 results and commentary could push investors in one of those directions. Canopy Growth (CGC)Source: Shutterstock Earnings Report Date: Friday, May 29, before market openCanopy Growth officially confirmed its earnings date on Friday, as fourth-quarter results will be released next Friday.That said, it will close an interesting and important stretch for the cannabis industry. Most notably, last week Aurora Cannabis (NYSE:ACB) posted results that were much better than expected. Also, Tilray (NASDAQ:TLRY) posted a decent quarter as well.The industry still is growing, even if share prices across the sector don't necessarily reflect it. That said, though, the ETFMG Alternative Harvest ETF (NYSEARCA:MJ) is down nearly 60% over the past twelve months.If Canopy -- the industry's largest player -- can post a big quarter, broader trends in the sector start looking more positive. And with shares down so far, even after a 90% bounce from March lows, that could suggest room to rally for not jut Canopy stock, but other pot stocks as well.Vince Martin has covered the financial industry for close to a decade for InvestorPlace.com and other outlets. He has no positions in any securities mentioned. More From InvestorPlace * Top Stock Picker Reveals His Next 1,000% Winner * America's Richest ZIP Code Holds Shocking Secret * 1 Under-the-Radar 5G Stock to Buy Now * The 1 Stock All Retirees Must Own The post 7 Earnings Reports to Watch Next Week appeared first on InvestorPlace.
Salesforce (NYSE:CRM) stock has enjoyed a strong recovery in recent weeks. The Software-as-a-Service giant saw its shares tumble from $195 to $115 during the March crash, but has rallied back above $170 now. Investors have shrugged off a slowdown in revenues at many internet companies -- in particular ones exposed to advertising -- by instead focusing on how the stay-at-home orders will speed the transition toward a digital-first economy.Source: Bjorn Bakstad / Shutterstock.com Specifically, Salesforce is likely to see a short-term slowdown in billings thanks to the virus. But the crisis may force a lot of previously offline companies to start using digital software to manage their sales channels; Salesforce could end up gaining from this in the long-term. Earnings On DeckIn any case, traders are wondering what will happen next, as Salesforce is set to report earnings next week. As of last quarter, it appeared Salesforce was experiencing accelerating growth. We can say that because while Salesforce grew revenues 29% for the full year, it saw revenues spike 35% higher last quarter. It was on an upward trajectory until the virus hit.InvestorPlace - Stock Market News, Stock Advice & Trading TipsNow, however, several analysts have cut estimates for Salesforce, and other related companies such as Workday (NASDAQ:WDAY) on the expectation of a significant slowdown in revenue growth. Earnings reports from firms such as IBM (NYSE:IBM) have shown weakness in areas that could filter through to Salesforce as well. All in all, traders probably shouldn't expect a fantastic quarter, nor great guidance for the rest of the year either. But the market seems willing to discount 2020 and look to the future. Salesforce Is Still Finding New CustomersThere has been some concern about Salesforce's outlook in the near future. Surely with the economy in a slowdown, people will need less sales software, right? However, the good news is that Salesforce's core functionality can be used for other tracking and monitoring applications outside of the sales function. * 7 Dow Jones Stocks to Buy With Fortress-Like Balance Sheets For example, Salesforce has its Salesforce Cares program, specifically tailored to helping companies manage health and human resources during the Covid-19 crisis. As of April 30, more than 7,000 firms had signed up for Salesforce Cares. Clients include tele-health firms, medical clinics, apartment property managers and insurance benefits providers among others. This shows the wide range of applications that Salesforce can support beyond its traditional core capabilities. Salesforce's Valuation: Fairly PricedIf you look at Salesforce on a pure earnings basis, the stock usually tends to look expensive. Next year, for example, consensus estimates have Salesforce earning just shy of $4 per share. That would put the stock at more than 40x forward earnings. However, keep in mind that Salesforce tends to plow its earnings back into the business via marketing spend. In doing so, it gives up accounting profits now in return for far larger revenues and cash flows in the future.Thus, the most reliable way to judge Salesforce's stock is by its price-to-sales ratio. Coming out of the financial crisis, CRM stock sold for just 4x sales -- a veritable bargain. It shot up to 11x revenues in 2011-12, and became somewhat overpriced for a time.Since 2013, however, the stock has settled into a remarkably consistent range, with Salesforce almost always being worth between 7x and 9x sales. Any dips to 7x or below have been strong buying opportunities. Meanwhile, when it has gotten up above 9x -- such as late last year -- it was a good time to take some profits. The stock is now selling at 8.5x sales, which puts it within the normal range; a correction that knocked the stock down 10% from here would move it toward a compelling buying point. But the current price isn't half bad, either. The Verdict on CRM StockIn one sense, Salesforce's short-term trading fate will ride with the broader cloud and SaaS stocks. Salesforce is one of the big players in the sector, and its stock is approaching key resistance levels. Whether or not it surges to new heights next week will have as much to do with tech stock sentiment as anything else.That said, Salesforce could surprise some investors with this next earnings report. Sure, there's probably going to be a slowdown in growth from their existing customers. And margins may suffer in the short-run. Salesforce is run with long-term objectives in mind; CEO Marc Benioff promised not to lay off any significant number of workers during the acute phase of this crisis, for example, which is great for long-term loyalty but could have an effect on margins in the short-term.However, if you own Salesforce as a long-term investment, part of what you've signed up for is maximizing future value rather than shooting for immediate profits. So don't worry about this one earnings report too much. That said, it could come in with more positive news than you expect. That's especially true when you consider all that's going on with Salesforce's efforts in fostering more client relationships in telemedicine and other adjacent lines of business. Salesforce is one of the core blue chip companies within the cloud software universe. As such, CRM stock represents a decent value heading into earnings.Ian Bezek has written more than 1,000 articles for InvestorPlace.com and Seeking Alpha. He also worked as a Junior Analyst for Kerrisdale Capital, a $300 million New York City-based hedge fund. You can reach him on Twitter at @irbezek. At the time of this writing, he held no positions in any of the aforementioned securities. More From InvestorPlace * Top Stock Picker Reveals His Next 1,000% Winner * America's Richest ZIP Code Holds Shocking Secret * 1 Under-the-Radar 5G Stock to Buy Now * The 1 Stock All Retirees Must Own The post Salesforce Stock Is a Promising Buy Ahead of Earnings appeared first on InvestorPlace.
Workday's (WDAY) fiscal first-quarter performance is likely to reflect high demand for its cloud-based HCM and financial management solutions.
Workday (WDAY) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.